In a recent published report, Kenneth Research has updated the market report for E-Cigarette Market Share 2021 by Global Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for E-Cigarette Market Share 2021 by Global Market products.
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By the end of 2050, the world’s population aged 60 years and above is anticipated to reach 2 billion, states the World Health Organization (WHO), in one of its statistics. Additionally, several manufacturers are increasingly showing interest for manufacturing healthy beverages, which is also anticipated to drive the growth of the market in the coming years.
Global E-Cigarette Market was valued at USD 10.5 Billion in the year 2017. The Global E-Cigarette Market is further estimated to grow at a CAGR of 16.9% from 2019 to reach USD 36.19 Billion by the year 2025. The e-cigarette is a device which allows the user to inhale nicotine without burning or producing smoke. E-cigarette works by heating and creating vapor from the solution which may or may not contain nicotine. Over recent years, the e-cigarette has become very popular stop smoking aid around the world.
North America region holds the highest Market share in 2017 and Asia-Pacific Market is considered as the fastest growing Market in the forecasted period due strongly growing awareness and benefits associated with the use of the e-cigarette. At a country level, the U.S in North America whereas South Korea and China in Asia-Pacific is projected to grow strongly in the coming years.
Major market players in the E-Cigarette Market are British American Tobacco, Imperial Brands
Altria Group, Japan Tobacco, International Vapor Group, Njoy Inc., Philip Morris International Inc., VMR Flavours Llc, Reynolds American Inc., Logic, Lorillard, Vapor Hub, and brief overview of 11 companies is also provided in the report. The top three company holds around 60% of the global Market share with British American Tobacco being a Market leader. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.
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SWOT Analysis E-Cigarette Market:
Strength:
The e-cigarette does not produce tar and carbon monoxide
Can use in public location and do not produce second-hand smoke.
Weakness:
Side effects associated with E-cigarette
The stringent regulatory framework on E-cigarette
Opportunities:
Developing distribution in emerging Market
Growing awareness
Threats:
Available alternative technology
Disorganized Market.
The segmentation is done on the basis of product type, by Flavor, by Distribution Channel, and by region. On the basis of product types, the global E-Cigarette Market is sub-segmented as rechargeable, disposable and modular of which the modular segment is expected to hold the highest CAGR during the forecast period.
E-Cigarette Market Segmentation:
By Flavor
*Tobacco
*Botanical
*Fruit
*Sweet
*Beverages
*Others
By Distribution Channel
*Specialist E-Cig Shops
*Online
*Supermarkets
*Tobacconist
*Others
By Product
*Rechargeable
*Disposable
*Modular
By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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